According to the World Bank’s system, countries in the slow growth club have a GDP growth of
a. 5% or more per year.
b. 2% or less per year.
c. 2% or more per year.
d. 5% or less per year.
b. 2% or less per year.
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If two or more markets are closely related,
A) a partial equilibrium analysis will tend to overstate the price impact of a supply shock. B) a partial equilibrium analysis will tend to accurately predict the price impact of a supply shock. C) a partial equilibrium analysis will tend to understate the price impact of a supply shock. D) they should be analyzed concurrently but using partial equilibrium analysis alone.
Opportunity cost is the highest possible price you can receive when you sell an object
a. True b. False Indicate whether the statement is true or false
An unintended effect of a new tax placed on the producers of good A may include
A) a higher price paid by the consumers of good A. B) less consumers' surplus for the buyers of good A. C) fewer workers employed in the production of good A. D) all of the above
Suppose a firm manager has a base salary of $85,000 and earns 0.5 percent of all sales. Determine the manager's income if revenues are $2,000,000 and profits are $500,000.
A. $50,000 B. $95,000 C. $170,000 D. $87,500